HONG KONG, Dec 11 (Reuters) - The auction for French insurer AXA's stake in China's No.4 life insurer, Taikang Life, has been put on hold amid growing concerns about new rules from China's insurance regulator, sources with direct knowledge of the matter said on Friday.
AXA's sale of its 15.6 percent stake in Taikang had received bids from Singapore's state investor Temasek, Blackstone Group, KKR and other funds, sources previously said, with the stake expected to be worth more than $1 billion.
But concerns about China's new rules on insurance company ownership have sparked worries that the firms lining up to bid for the stake fail to match regulatory standards, sources say.
Taikang declined to comment. AXA was unavailable to comment. (Reporting by George Chen and Michael Flaherty; Editing by Jacqueline Wong)
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